Overview

This course is designed to provide an advanced level of introduction to the topics in decision analysis and performance improvement. It consistent of two main parts: risk analysis (RS) and decision analysis (DS) under uncertainty, multiple criteria decision analysis (MCDA), data envelopment analysis (DEA) and multiple objective linear programing (MOLP). The emphasise of the course is on how data and human judgement s can be combined to support decision and performance analysis in a robust way and what models, methods, algorithms and software systems can be used in the process to improve the quality of the analysis.

Pre/co-requisites

BMAN60092 Programme Req: BMAN60092 is only available as a core unit to students on MSc Business Analytics, and as an elective to students on MSc QF and MSc Advanced Computer Science (SoCS)

Aims

This course unit covers risk, performance and decision modelling and analysis, including risk modelling and assessment, both single and multiple criteria decision modelling and analysis, data envelopment analysis and multiple objective optimisation. Emphasis will be placed on the integrated applications of these methods and tools to performance and efficiency analysis and planning. The aim is to familiarise students with the applications of decision modelling and performance analysis methodologies

Learning outcomes

At the end of the course unit students should be familiar with concepts, methods and tools for decision tree analysis, multiple criteria decision analysis, data envelopment analysis and multiple objective optimisation, which they can apply to support decision making and deal with performance assessment and efficiency analysis problems. They should also be able to use appropriate software tools such as Excel and IDS Multicriteria Assessor.

Assessment methods

70% Exam (close book, 2 hours)

30% Coursework (group project and presentation)

Feedback methods

Informal advice and discussion during a lecture, seminar, workshop or lab.

Online exercises and quizzes delivered through the Blackboard course space.

Responses to student emails and questions from a member of staff including feedback provided to a group via an online discussion forum.

Written and/or verbal comments on assessed or non-assessed coursework. Written and/or verbal comments after students have given a group or individual presentation.